Personalized Retail: Friend or Freaky?

US consumers are locked in a vicious circle with brands over customer experience, according to new research from Accenture. While 44% are frustrated when companies fail to deliver relevant, personalized shopping experiences, nearly half (49%) are concerned about personal data privacy as they subscribe to intelligent services designed to understand and anticipate their needs.
 
In fact, some say it can gives them the heebie-jeebies.
 
Accenture found nearly half (48%) of US consumers would use “smart-reordering” services where intelligent sensors in the home pre-empt when a product, such as laundry detergent, is running low and automatically re-orders it on their behalf. Another 36% use digital assistants.
 
And while the vast majority (89%) are satisfied with the experience, 40% say it can feel slightly creepy when technology starts to correctly interpret and anticipate their needs.
 
Accenture finds poor personalization and lack of trust cost US organizations $756 billion last year, as 41% of consumers switched companies. Without deeper customer insight, companies cannot deliver the experiences they crave, said the New York-based firm.